IT and Telecom sector earned record $2.6 billion revenue in last year

Engineering Post Report 

Export of services in telecommunication, computer and information sectors from Pakistan crossed  $ 2.61 billion  during the fiscal year 2021-22 depicting  24 per cent growth on year to year basis.

According to the figures available from Pakistan Bureau of Statistics (PBS) in this regard, yearly export of telecommunication,, computer and information sectors services  had increased  by 15.30, 26.40 and 31 per cent respectively  as compared to FY 2020-21.

Export of services in the field of  computers  for the first time had crossed the $ 2 billion mark in FY 2021-22 as Pakistan had earned $ 2,106.16 million  which was  26.40 per cent higher that $ 1,666.31 million export of the preceding year.

The volume of  export of software consultancy also rose to $ 795.48 million  showing an appreciable increase  of 43.3 per cent over $ 554.612 million  while export  and import of computer  software fetched $ 563.07 million  for the country in FY 2021-22 depicting a 34.8 per cent increase as compared to  $ 417.485 million in FY 2020-21.

Besides, a significant  increase of  as much as  429. 58 per cent was also observed  in hardware consultancy  services which reached to  $ 2918 million against the previous year’s nominal export of only $ 551 thousand while  services relating to  maintenance and repairs of computers brought $ 1.45 million in the country which was 118.43 per cent higher than the previous year.

A 7.25 per cent increase wa also recorded in the export of  other  computer services  during the  period under report  and its volume had reached $ 743.23 million from $ 693 million/

Export of telecommunication sub-sectors services in  FY 2021-22  with 15.31 per cent growth  amounted to $ 504.44 million\n while its export volume in the previous year was recorded  at $ 437.5 million.

On the basis of this quite encouraging and appreciable performance of IT and telecommunication sector, the experts on being contacted opened  that the world at large  had admitted the people of Pakistan are the heart and souls of innovations. Pakistan  now has  more  enterprising youth  than it ever hand and it can easily be predicted that it  will continue to show increase  until at least till 2050. The youth  indeed have the power  to transform a country’s future. The country’s digital potential is immense in terms of  talents and cost competitiveness.